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Do You Have What it Takes to Trade Forex | Ep. 015

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Content provided by The Forex Warrior. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Forex Warrior or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

To be a successful Forex trader requires a lot of specific traits that need to come together synergistically to be successful over the long term. Dr. Jason Gospodarek shares the traits necessary in Do You Have What it Takes to Trade Forex.

Money

You can learn to trade on demo accounts and without a lot of money. You can watch YouTube videos and take part in forums. When the rubber meets the road, you need the funds to start a trading account.

Most brokerages will allow you to open an account with a small amount. These are sometimes called micro or mini accounts. Each brokerage has their own name.

To obtain a lower cost per trade or spread or smaller commission on an ECN account, most brokerages require a deposit of roughly $2000.00 US dollars. This is a pretty good average across the board to unlock lower trading expense. Generally speaking, the higher your deposit the lower your trading expense.

For a VIP account, some brokerages require about $10,000.00 US dollar deposit to get the best trading parameters. This will get you a very small spread or commission on ECN based accounts.

Time

If you don’t have the time to learn, trade and to monitor your trades, you might as well not trade. Put in the time to trade and to journal it. Much like continuing education as a doctor, you need to stay up to date on the newest technologies and the latest trends.

If you stick with the same strategy over the course of your trading career, at some point that strategy is likely to stop working. Forex trading requires a long-term approach to trading and education. You have to have time to dedicate to trading.

To hear the rest of Jason traits for successful Forex trading, download and listen to Do You Have What it Takes to Trade Forex.

Connect with Jason:

TheForexWarrior
Facebook

Snapchat

Instagram

YouTube

Twitter

Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Do You Have What it Takes to Trade Forex Thank you for tuning in to The Forex Warrior podcast!

  continue reading

19 episodes

Artwork
iconShare
 
Manage episode 310275012 series 3051303
Content provided by The Forex Warrior. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Forex Warrior or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

To be a successful Forex trader requires a lot of specific traits that need to come together synergistically to be successful over the long term. Dr. Jason Gospodarek shares the traits necessary in Do You Have What it Takes to Trade Forex.

Money

You can learn to trade on demo accounts and without a lot of money. You can watch YouTube videos and take part in forums. When the rubber meets the road, you need the funds to start a trading account.

Most brokerages will allow you to open an account with a small amount. These are sometimes called micro or mini accounts. Each brokerage has their own name.

To obtain a lower cost per trade or spread or smaller commission on an ECN account, most brokerages require a deposit of roughly $2000.00 US dollars. This is a pretty good average across the board to unlock lower trading expense. Generally speaking, the higher your deposit the lower your trading expense.

For a VIP account, some brokerages require about $10,000.00 US dollar deposit to get the best trading parameters. This will get you a very small spread or commission on ECN based accounts.

Time

If you don’t have the time to learn, trade and to monitor your trades, you might as well not trade. Put in the time to trade and to journal it. Much like continuing education as a doctor, you need to stay up to date on the newest technologies and the latest trends.

If you stick with the same strategy over the course of your trading career, at some point that strategy is likely to stop working. Forex trading requires a long-term approach to trading and education. You have to have time to dedicate to trading.

To hear the rest of Jason traits for successful Forex trading, download and listen to Do You Have What it Takes to Trade Forex.

Connect with Jason:

TheForexWarrior
Facebook

Snapchat

Instagram

YouTube

Twitter

Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Do You Have What it Takes to Trade Forex Thank you for tuning in to The Forex Warrior podcast!

  continue reading

19 episodes

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